The Bureau of Labor Statistics reported the producer price index jumped more than expected in July, spurring renewed concerns about inflation's economic impact.

While the overall reading on consumer prices was steady, a measure excluding food and energy categories rose to 3.1%.

Inflation, as measured by the producer price index, shot up to 3.3% for the year ending in July, the Bureau of Labor Statistics reported Thursday — the largest 12 month increase since February. On a month-to-month basis,

July’s Consumer Price Index report showed an acceleration in “core” prices that strip out volatile food and energy items.

The Bureau of Labor Statistics reported the July consumer price index which showed CPI inflation continued to rise as tariffs push prices higher for U.S. businesses and consumers.

Nigeria's annual inflation rate eased in July to 21.88% from 22.22% in June, marking the fourth month of decline, data from its statistics agency showed on Friday.

Here's what new data from the producer price index says about where inflation is headed, according to economists.

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